Evil Seattle Home Prices, Historic Pop Growth & What Is A Limited Pre-Inspection

As home prices and rents continue to soar faster in the Seattle area than just about anywhere else in the nation, the city and its neighbors have set new highs for housing costs. Seattle’s median single-family home cost $666,500 in June, easily beating out the record set in February, according to figures released Wednesday by…




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U District Rezone, High Efficiency Dwellings & Is KC Affordable?

Seattle’s Office of Planning and Community Development (OPCD) released draft recommendations on the University District rezone and urban design proposal in late May. The draft recommendations consist of a large breadth of changes to development regulations in the neighborhood and substantially increase development capacity. Most of the proposed changes would affect the core of the…




Local Companies Buy & Settle

In separate statements, Zillow and Move said the settlement was an “amicable resolution” and that they intended to put the dispute behind them. Both companies declined to comment beyond the statements. As part of the settlement, neither company admitted wrongdoing. Zillow settles suit by rival for $130 million – Seattle Times Zillow Boosts Accuracy With…




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Bidding Wars, Skyrocketing Prices = Bubble?

In today’s ultracompetitive local housing market, there are now more home-bidding wars than at any point this decade. The result? For the first time during the economic recovery, the majority of homes are selling for above the list price in Seattle and surrounding cities. It’s an inescapable reality from West Seattle to the Eastside: A…




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Seattle To Host Special Olympics USA Games & Other Local Headlines

Seattle has been selected to host the 50th anniversary Special Olympics USA Games in July 2018. The quadrennial event – which celebrates athletes with disabilities – will bring tens of thousands of people and hundreds of millions of dollars to the region. “We look forward to welcoming 3,500 athletes, their families, friends and supporters to…




Listings Up, Prices Up & Mortgage Rates Down

Pending home sales in the Puget Sound region’s four-county area are at a near record, more owners are putting their houses on the market, and price increases for single-family homes have started to slow down some. Yet prices still are climbing, and it remains a seller’s market, especially if you’re unloading a condo. The median…




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Homes Imported From Canada, Assessor Goes Green & What A Gorgeous Stamp

Home prices in Seattle continued to outpace most of the nation’s other top metro areas in February, jumping 11 percent year-over-year, according to the S&P/Case-Shiller 20-city index released Tuesday. The Seattle metropolitan area trailed only the Portland area, which posted an 11.9 percent leap in home prices. Other cities showing the highest year-over-year growth include…




Silicon Seattle, A Few Predictions & Lead In The Water

With high home prices, low inventory and heated bidding wars, Seattle is the new San Francisco. In the metro Seattle area, home-sale prices rose 9.5% from 2014 to 2015, putting the median home value at $385,300, according to the National Association of Realtors. That’s below the limit for government-backed loans for the area, which currently…




Seattle Buyers Get Thrifty & Commercial Rent Control

Seattle Mayor Ed Murray on Thursday named 15 people to a committee that will recommend ways the city can address rising prices that small businesses pay to rent commercial space. He said everything, including rent control and mandating developers include lower cost commercial space in their projects, is on the table. Rent control for commercial…




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Squeeze on Inventory, Booming Downtown & Love That Craftsman

The shortage of homes for sale in the Seattle region is now stretching beyond King County. All four central Puget Sound counties are exhibiting a similar pattern: Prices are going up, but inventory is going down. All four have less than two months of inventory, going into the season when home sales typically heat up….




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MLS Market Update: April 2016

Puget Sound Area Home Sales Slow (Not Prices) Traffic isn’t the only thing that is gridlocked around many Puget Sound communities. “We’re experiencing gridlock in the Puget Sound housing market,” suggested J. Lennox Scott in reaction to the latest statistics from Northwest Multiple Listing Service. MLS figures show pending sales across the 23 counties it…




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Moving Trends For People, Transit & Google

What’s behind Seattle’s steady growth? The Seattle metro area experienced the fifth largest amount of growth among 85 metros in the Western Region of the U.S. from 2000-2014, an annual average rate of 1.4 percent. While that might not sound like a lot, that is about 700,000 new residents calling the Emerald City home since the…




All You Need to Know About RRIO

Improving & preserving safe & healthy housing for all Seattle renters. A quick reminder that the City of Seattle’s Rental Registration and Inspection Ordinance (RRIO) is rolling out across the City, with deadlines arranged by ZIP code. The City reports that many landlords do not know about this requirement, so pass this along to friends/family/colleagues…




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7 Steps To Buying A House




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Scarce Listings, The GMA & Sweet Digs For Expedia

The median price of single-family homes sold in King County hit a new all-time high last month — $514,975 — amid record-low inventory, heralding even more intense bidding wars ahead in the typically busy spring home-buying season. Ominously, the more affordable Snohomish and Pierce counties also face a historically low inventory level, according to a…




Employment Up! & Write Off Rent On Your Taxes?

A new bill hopes to provide some relief to renters who are faced with skyrocketing rental costs – by giving them a tax break. If approved, the bill would allow renters to deduct what they pay for rent from their federal taxes. Could Renters Get a Tax Deduction Soon?  – NAR Latest Unemployment Drop May…




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MLS Market Update: March 2016

Buyer Frustration Builds as Inventory Shrinks, Prices Rise Home prices in King County hit new highs in February as buyers tried to outbid each other for the sparse inventory in much of Western Washington. “We’re in for another crazy spring real estate market,” predicts J. Lennox Scott, chairman and CEO of John L. Scott, Inc….




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More Equity For Owners & Yes! You’re A Seattle Real Estate Broker

Home owners are increasingly optimistic about gaining equity in their homes this year, but they’re still conservative on how much they’ve truly gained. Forty-six percent of home owners with a mortgage say they believe they’ll see their equity increase in 2016, and the majority expect to see a gain by as much as 10 percent,…




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Silicon Refugees To Blame & More Cottages Needed

A very different kind of refugee crisis may drive Seattle home prices even higher in 2016. Zillow senior economist Aaron Terraza anticipates an influx of “Silicon refugees,” that is, tech workers relocating to Seattle because of the high cost of living in the Bay Area. Senior Zillow economist blames rising Seattle home prices on ‘Silicon…




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Prices High, Inventory Low & UW Downtown

King County’s housing market hit two milestones in December: The median single-family home price set a new high, $508,000, topping the $481,000 peak reached in July 2007 before prices began their long slide. And the number of active listings of houses and condominiums — just 2,196 — hit the lowest monthly level since at least…




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MLS Market Update: January 2016

Puget Sound area home sales, prices still strong Home prices have “clearly recovered” in King County and a few other areas served by Northwest Multiple Listing Service. Many member-brokers say prices are likely to keep rising as a backlog of buyers competes for depleted inventory. Those were among reactions from brokers upon reviewing the December…